Xiwang Iovate Holdings Company Limited, Iovate Health Sciences International Inc., and Iovate Health Sciences U.S.A. Inc.
Joint Annual Report for the Period dated January 1, 2024 to December 31, 2024
Published in accordance with Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act (the “Act”)

1. Introduction.

This Joint Annual Report (the “Report”) is prepared and submitted on behalf of the board pursuant to the approved Anti Slavery Policy on behalf of Xiwang Iovate Holdings Company Limited (“Xiwang”), Iovate Health Sciences International Inc. (“Iovate International”) and Iovate Health Sciences U.S.A. Inc. (“Iovate USA”, referred to collectively as “Iovate”) in accordance with Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act (the “Act”), for the period from January 1, 2024 to December 31, 2024 (the “Reporting Period”).

Xiwang is a corporation incorporated in British Columbia (Business Number: BC1084913), Iovate International is a corporation incorporated in Ontario (Business Number: 5047737), and Iovate USA is a corporation incorporated in Delaware (Business Number: 3744671). Each Iovate entity meets the thresholds for assets and revenue under the Act. Iovate does not report under supply chain legislation in other jurisdictions.

This Report provides information regarding the risks of modern slavery in Iovate’s supply chain and sets out the actions taken by Iovate to mitigate those risks and respond to any known instances of forced labour or child labour within Iovate’s operations. There have been no reported instances of modern slavery during the Reporting Period.

2. Structure, Activities & Supply Chains.

Iovate is a dynamic, leading-edge nutritional company that develops, sources, distributes and sells innovative diet and sports nutrition supplements and natural health products globally. Iovate develops products under four nutritional brands, MuscleTech®, Hydroxycut®, Six Star® and Purely Inspired®. Iovate is headquartered is in Oakville, Ontario, Canada.

Iovate International and Iovate USA are both 100% wholly owned subsidiaries of Xiwang. Xiwang is also the parent of several affiliate companies, Northern Innovation Holdings Corp. (“Northern”), Iovate Health Sciences UK INC Ltd., Iovate Health Sciences Europe Limited, and Iovate Health Sciences PTY Ltd. Northern is an Ontario incorporated company that owns the trademarks and patents for each of the Iovate brands, MuscleTech®, Hydroxycut®, Six Star® and Purely Inspired®, and licenses the rights to the brand trademarks to Iovate International and Iovate USA. Iovate USA is the parent company of several affiliates, including Muscletech LLC, Hydroxycut LLC, Six Star Pro Nutrition LLC, Purely Inspired LLC, SimpleVita Nutrition LLC, XP Sports LLC and Conscious Kitchen LLC.

Iovate manufactures its dietary and sports nutrition supplements through approximately 25 co- manufacturers located in the USA, Australia, India and the European Union. For the majority of co-

manufacturers, Iovate’s business is under 50% of the line time. Iovate also has a licensing model by which Iovate International grants the right to international partners to manufacture, or work with Iovate’s manufacturers to manufacture, and distribute Iovate’s products in various global regions, including India, Japan and Brazil. Iovate’s co-manufacturers source and purchase ingredients for Iovate’s products from suppliers globally. In certain cases, particularly for key ingredients, Iovate may have a direct ingredient and license agreement with the ingredient supplier under which co- manufacturers purchase on Iovate’s behalf. For most ingredients, the volume related to Iovate’s business would amount to less than 50% of the line time for any ingredient supplier.

Iovate sells and distributes its products in approximately 90 countries worldwide. Internationally, Iovate distributes products through a distribution model whereby Iovate sells products to a distributor and the distributor is responsible for marketing and sales in the licensed territory. Iovate has distribution partners located in Latin America, the Middle East, Africa, Europe, Oceana, Asia and India. Iovate also operates a direct-to-consumer online store in North America, with order fulfillment facilitated through a third-party partner.

3. Policies and Due Diligence Processes in relation to Forced Labour and Child Labour

Iovate is committed to preventing forced labour and child labour in its supply chain, to this effect, Iovate developed an Anti-Slavery Policy in 2024, which was approved and adopted by the Board of Directors. The Anti-Slavery Policy (the “Policy”) was drafted in accordance with the core provisions of the Act. The objective of the Policy is to ensure that all Iovate employees comply with the provisions of the Act while discharging their daily duties. It is a reference document for all employees who engage with distributors, manufacturers and suppliers of Iovate. The Policy created channels for employees to report suspected incidents of modern slavery, forced labour and child labour. It also set out the resolution mechanisms created for such issues.

There are a couple of other internal policies created by Iovate, such as an Iovate employee manual, Whistleblowing, Social Responsibility, Anti-Fraud and Anti-Corruption, to ensure that human rights and good ethics are maintained within Iovate’s work environment.

4. Risk of Forced Labour and Child Labour & Steps Taken to Manage Risk

We acknowledge that there is risk at multiple levels in our supply chain. Commodities are challenging to trace, and often our suppliers and co-manufacturers do not have visibility upstream because they purchase from distributors. Parts of our supply chain are in areas that contain a higher risk of modern slavery, and certain ingredients in our products carry a higher risk of forced labour or child labour. For example, some of our products contain ingredients contained on the United States Department of Labor 2022 List of Goods Produced by Child Labor or Forced Labor, such as green coffee or salt, and some of our packaging contains cotton. Since our co-manufacturers generally determine where they purchase these ingredients and purchase most ingredients from distributors who have their own suppliers, there is a risk that these ingredients are purchased from areas with a risk of forced labour or child labour. Some of our ingredients, including protein and creatine, are sourced from China.

All of our manufacturing agreements with co-manufacturers and ingredient supply agreements include compliance with laws provision, requiring our supply chain partners to comply with all

applicable laws, including those relating to forced labour and child labour. Our contracts also generally include the right to conduct quality audits, including in-person facility visits. Such facility visits give Iovate visibility to the workforce engaged by Iovate’s co-manufacturers.

Our aim is to address the growing risks of modern slavery, particularly in higher-risk areas of our supply chain, by seeking more transparency from our suppliers.

5. Remediation Measures

During the Reporting Period, Iovate did not receive any report relating to forced labour or child labour. As we have not encountered any instances of forced labour or child labour in our supply chain, the question of remediation is not applicable, and no remediation measures have been taken to date. Our approach to remediation of any instance of forced labour or child labour, and any measures to remediate the loss of income to the most vulnerable families that may result from any measure taken to eliminate such use of forced labour or child labour, would depend on the specific circumstances. Any response to a reported incident of forced labour would consider and be proportionate to the role of the facility in Iovate’s supply chain and the importance of Iovate’s business to the supplier or co- manufacturer (including the percentage of line time Iovate’s purchases represent to the facility).

Iovate’s remediation measures will include, but are not limited to, prioritizing the lives of child or forced labour victims over business gains.

6. Training

Iovate developed a training program for employees explaining the company’s policies to prevent forced labour and child labour. During the Reporting Period, employees on the Iovate procurement team, sales team and quality assurance team were trained by Iovate’s legal department. It was an interactive training session as the participants had the opportunity to ask meaning questions on various ways of complying with the Policy and the Act. Some of the questions asked during the training have been incorporated into Iovate’s 2024 action plan for fighting forced labour and child labour in our supply chain.

7. Measures to Assess Effectiveness

For the Reporting Period, Iovate assessed the effectiveness of its Anti-slavery Policy to ensure that forced labour and child labour are not being used in our supply chains. This was done by reviewing whether there were any reported incidents and conducting a review of whistleblowing activities. For this reporting Period, Iovate had no reports of actual or alleged instances of forced labour or child labour, and no instances of whistleblowing.

Also, we made the Anti-Slavery policy available to all employees to review, ask questions and implement in the course of their duties. Inter departmental meetings were held to review the implementation level of the Anti-Slavery Policy and the Act.

Attestation:

This Report was approved by the Board of Directors of Xiwang Iovate Holdings Company Limited, the parent company of Iovate Health Sciences International Inc. and Iovate Health Sciences U.S.A. Inc. In accordance with the requirements of the Act, and in particular section 11, thereof, I attest that I have reviewed the information contained in the report for the entity or entities listed above. Based on my knowledge, and having exercised reasonable diligence, I attest that the information in the report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

Name: Xiyao Michael Liu

Title: Director

Date: May 30, 2025

I have the authority to bind Xiwang Iovate Holdings Company Limited, Iovate Health Sciences International Inc., and Iovate Health Sciences U.S.A. Inc.